{
\def\sym#1{\ifmmode^{#1}\else\(^{#1}\)\fi}
\begin{longtable}{l*{6}{c}}
\caption*{Table A14: Full Specification for Table A4, Bought Durables Indicator vs. Year-Ahead Expectations, Mortgagor Sample, GEE Logit estimation}\\
\toprule\endfirsthead\midrule\endhead\midrule\endfoot\endlastfoot
                                             &\multicolumn{1}{c}{(1)}         &\multicolumn{1}{c}{(2)}         &\multicolumn{1}{c}{(3)}         &\multicolumn{1}{c}{(4)}         &\multicolumn{1}{c}{(5)}         &\multicolumn{1}{c}{(6)}         \\
\midrule
Inflation Expectation                        &       0.067         &      -0.056         &      -0.120         &       0.027         &       0.337\sym{**} &       0.454\sym{**} \\
                                             &     (0.071)         &     (0.093)         &     (0.111)         &     (0.119)         &     (0.148)         &     (0.218)         \\
Inflation Uncertainty                        &       0.008         &       0.054         &       0.108         &      -0.046         &      -0.265         &      -0.258         \\
                                             &     (0.064)         &     (0.084)         &     (0.077)         &     (0.098)         &     (0.179)         &     (0.169)         \\
Mortgage Balance (Log)                       &                     &       0.205\sym{*}  &       0.212         &       0.849\sym{**} &       0.676         &       0.701         \\
                                             &                     &     (0.120)         &     (0.142)         &     (0.415)         &     (0.426)         &     (0.427)         \\
Household Income (Log)                       &                     &       1.050\sym{***}&       1.126\sym{***}&      -3.991\sym{***}&      -3.472\sym{**} &      -3.349\sym{**} \\
                                             &                     &     (0.338)         &     (0.323)         &     (1.343)         &     (1.411)         &     (1.394)         \\
Monthly Payments (Log)                       &                     &      -0.380\sym{**} &      -0.393\sym{**} &      -1.298\sym{***}&      -1.343\sym{***}&      -1.446\sym{***}\\
                                             &                     &     (0.176)         &     (0.159)         &     (0.353)         &     (0.356)         &     (0.337)         \\
Expects Interest Rate Increase                              &                     &       0.718\sym{**} &       0.804\sym{**} &       1.111\sym{**} &       0.900\sym{*}  &       0.938\sym{*}  \\
                                             &                     &     (0.319)         &     (0.347)         &     (0.477)         &     (0.521)         &     (0.546)         \\
Expects Interest Rate Decrease                              &                     &      -0.254         &      -0.415         &      -0.142         &      -0.100         &      -0.163         \\
                                             &                     &     (0.932)         &     (0.968)         &     (1.252)         &     (1.246)         &     (1.286)         \\
Real Wage Expectation                        &                     &      -0.083         &      -0.103         &      -0.061         &      -0.072         &      -0.062         \\
                                             &                     &     (0.068)         &     (0.076)         &     (0.082)         &     (0.084)         &     (0.091)         \\
Wage Uncertainty                             &                     &       0.086         &       0.076         &       0.257\sym{**} &       0.264\sym{**} &       0.258\sym{**} \\
                                             &                     &     (0.096)         &     (0.099)         &     (0.103)         &     (0.110)         &     (0.115)         \\
Age                                          &                     &      -0.006         &      -0.003         &       0.042         &       0.034         &       0.024         \\
                                             &                     &     (0.037)         &     (0.037)         &     (0.036)         &     (0.038)         &     (0.039)         \\
Non-White                                  &                     &       0.329         &      -0.034         &       0.342         &      -0.152         &      -0.148         \\
                                             &                     &     (0.749)         &     (0.902)         &     (0.580)         &     (0.638)         &     (0.644)         \\
Female                                     &                     &       0.418         &       0.626         &       0.021         &       0.432         &       0.340         \\
                                             &                     &     (0.456)         &     (0.505)         &     (0.360)         &     (0.389)         &     (0.367)         \\
Retired                                    &                     &       0.285         &       0.159         &      -1.064         &      -0.641         &      -0.628         \\
                                             &                     &     (0.743)         &     (0.732)         &     (0.791)         &     (0.783)         &     (0.741)         \\
House Price Expectation                      &                     &       0.027         &       0.039         &      -0.014         &       0.001         &       0.003         \\
                                             &                     &     (0.022)         &     (0.026)         &     (0.034)         &     (0.035)         &     (0.036)         \\
Expects Unemployment Increase                                  &                     &                     &      -1.232\sym{***}&      -2.765\sym{***}&      -3.095\sym{***}&      -3.137\sym{***}\\
                                             &                     &                     &     (0.410)         &     (0.649)         &     (0.733)         &     (0.707)         \\
Expects Unemployment Decrease                                  &                     &                     &      -1.322\sym{***}&      -1.599\sym{***}&      -1.623\sym{***}&      -1.671\sym{***}\\
                                             &                     &                     &     (0.312)         &     (0.432)         &     (0.432)         &     (0.457)         \\
Mean Inflation Expectation                   &                     &                     &                     &       0.004         &      -0.154         &      -0.204         \\
                                             &                     &                     &                     &     (0.238)         &     (0.263)         &     (0.265)         \\
Mean Inflation Uncertainty                   &                     &                     &                     &       0.638\sym{***}&       0.668\sym{***}&       0.672\sym{***}\\
                                             &                     &                     &                     &     (0.191)         &     (0.204)         &     (0.217)         \\
Mean Log Mortgage Balance                    &                     &                     &                     &      -0.704         &      -0.452         &      -0.662         \\
                                             &                     &                     &                     &     (0.440)         &     (0.460)         &     (0.473)         \\
Mean Log Household Income                    &                     &                     &                     &       4.701\sym{***}&       4.733\sym{***}&       4.887\sym{***}\\
                                             &                     &                     &                     &     (1.359)         &     (1.427)         &     (1.359)         \\
Mean Log Monthly Payments                    &                     &                     &                     &       1.803\sym{***}&       1.486\sym{***}&       1.598\sym{***}\\
                                             &                     &                     &                     &     (0.509)         &     (0.518)         &     (0.488)         \\
Mean Expects Interest Rate Increase          &                     &                     &                     &      -1.048         &      -0.289         &      -0.756         \\
                                             &                     &                     &                     &     (0.808)         &     (0.883)         &     (0.870)         \\
Mean Expects Interest Rate Decrease          &                     &                     &                     &       1.200         &       0.452         &       1.170         \\
                                             &                     &                     &                     &     (1.411)         &     (1.342)         &     (1.432)         \\
Mean Real Wage Expectation                   &                     &                     &                     &       0.153         &       0.152         &       0.120         \\
                                             &                     &                     &                     &     (0.117)         &     (0.111)         &     (0.113)         \\
Mean Wage Uncertainty                        &                     &                     &                     &      -0.639\sym{***}&      -0.748\sym{***}&      -0.677\sym{***}\\
                                             &                     &                     &                     &     (0.183)         &     (0.167)         &     (0.171)         \\
Mean House Price Expectation                 &                     &                     &                     &       0.104\sym{**} &       0.088\sym{*}  &       0.084         \\
                                             &                     &                     &                     &     (0.047)         &     (0.051)         &     (0.051)         \\
Mean Expects Unemployment Increase           &                     &                     &                     &       1.902\sym{**} &       1.596\sym{*}  &       1.977\sym{**} \\
                                             &                     &                     &                     &     (0.929)         &     (0.958)         &     (0.937)         \\
Mean Expects Unemployment Decrease           &                     &                     &                     &      -0.617         &      -0.998         &      -0.814         \\
                                             &                     &                     &                     &     (0.717)         &     (0.774)         &     (0.766)         \\
No College                                 &                     &                     &                     &                     &      -1.679\sym{***}&      -1.689\sym{***}\\
                                             &                     &                     &                     &                     &     (0.628)         &     (0.634)         \\
No College $\times$ Inflation Expectation  &                     &                     &                     &                     &      -0.787\sym{***}&      -0.688\sym{***}\\
                                             &                     &                     &                     &                     &     (0.178)         &     (0.158)         \\
No College $\times$ Inflation Uncertainty  &                     &                     &                     &                     &       0.641\sym{***}&       0.564\sym{***}\\
                                             &                     &                     &                     &                     &     (0.221)         &     (0.216)         \\
Mean Log Mortgage Balance $\times$ Inflation Expectation&                     &                     &                     &                     &                     &       0.004         \\
                                             &                     &                     &                     &                     &                     &     (0.086)         \\
Mean Log Household Income $\times$ Inflation Expectation&                     &                     &                     &                     &                     &      -0.218         \\
                                             &                     &                     &                     &                     &                     &     (0.147)         \\
Mean Log Monthly Payments $\times$ Inflation Expectation&                     &                     &                     &                     &                     &      -0.123         \\
                                             &                     &                     &                     &                     &                     &     (0.132)         \\
Constant                                     &      -0.845         &      -0.946         &      -0.626         &      -3.163         &      -2.081         &      -1.493         \\
                                             &     (0.535)         &     (2.101)         &     (2.131)         &     (2.304)         &     (2.474)         &     (2.503)         \\
\midrule
Correlated Random Effects                    &          No         &          No         &          No         &         Yes         &         Yes         &         Yes         \\
Chi$^2$                                      &       12.22         &      239.58         &      255.13         &      677.84         &      902.65         &     1531.14         \\
P Value                                      &        0.51         &        0.00         &        0.00         &        0.00         &        0.00         &        0.00         \\
Sample Size                                  &         671         &         671         &         671         &         671         &         671         &         671         \\
\bottomrule \caption*{\normalsize \doublespacing Standard errors in parentheses. \\ \textit{Note:} Each column includes time fixed effects. All means refer to within-subject means. Robust standard errors are clustered at the level of the individual respondent. \sym{*} \(p<0.10\), \sym{**} \(p<0.05\), \sym{***} \(p<0.01\)}
\end{longtable}
}
